Indian equity indices ended lower on May 8 amid rising geopolitical tensions following reports that Indian forces neutralized an air defense system in Lahore.
Investor sentiment was further dented by the US Fed Chair’s remarks highlighting concerns over persistent inflation and labor market risks, potentially impacting US economic growth.
Sectorally, only IT and Media closed in the green, while Realty and Metal stocks led the declines.
Midcap and Smallcap indices underperformed the broader market, each falling over 1% and adding to the overall market weakness.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY IT
0.2
NIFTY CONSUMER DURABLES
-1.1
NIFTY MEDIA
0.2
NIFTY PSU BANK
-1.4
NIFTY PRIVATE BANK
-0.1
NIFTY OIL & GAS
-1.4
NIFTY FMCG
-1.0
NIFTY PHARMA
-1.6
Top News
FMCG stocks traded lower on May 8 after Dabur reported flat revenue and an 8.5% YoY drop in Q4 profit, citing weak urban demand, though it expects a recovery ahead.
Niva Bupa Health Insurance surged 15% to a four-month high after posting a strong Q4FY25 performance, with a 31.2% YoY rise in profit and gains in retail market share.
Tata Steel jumped 4% following robust quarterly results and improved sentiment on rising steel demand and supportive global pricing trends.
Top Gainers and Losers
Top Gainers
% Change
Top Losers
% Change
AXISBANK
0.8
SHRIRAMFIN
-4.5
HCLTECH
0.6
ETERNAL
-4.2
KOTAKBANK
0.5
M&M
-3.6
Technical Outlook: Key Indices
Indices Name
Support
Resistance
Nifty
24,150
24,500
Bank Nifty
53,700
55,500
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